Lords Glass signs agreement with BOI

Lords Glass (Pvt) Ltd, India has signed an agreement with the Board of Investment of Sri Lanka (BOI) to set up a factory that will be engaged in the conversion of float glass into toughened glass for the export markets.

The project cost is around Rs. 129 million and this will generate 120 new employment opportunities. The company will be at Wellampitiya.

Chairman/Director General of the BOI Dhammika Perera, signed the agreement on behalf of the Board of investment of Sri Lanka and Dr. D. K. Modi, the company's Chairman on behalf of Lords Glass (Pvt) Ltd, India.

Toughened Glass is a very versatile product that has many commercial uses. It is a type of safety glass that has strength and will usually shatter in small, square pieces when broken. It is popular because of its properties such as strength, thermal resistance and safety.

Toughened glass is made from annealed glass or ordinary float glass via a thermal tempering process. Toughened glass is also known as tempered glass and often used in the dining room and kitchen.

One standard use is in the clear areas of microwave ovens and also for making glass dinnerware under the brand names of Arcoroc and Duralex. It is also used in drinking glasses and stemware in two forms, which are fully tempered and Rim tempered.

Other forms of tempered glass are Borosilicate glass for baking marketed by Pyrex, ceramic-glass dinnerware by Corelle and Arcopal, and bakeware and stove top pots by Arcoflam.

The investor, Dr. Devendra K. Modi, Chairman of Lords Glass (Pvt) Ltd is a leading business personality in India. His business undertaking, Modi Group of India has a diversified range of activities ranging from manufacturing to services such as rubber, carpets, iron, healthcare, paints and chemicals, distillery and education.

Dr. Modi saw the benefits offered by the Indo-Sri Lanka Free Trade Agreement which offers duty free access to the Indian market for entrepreneurs wishing to set up manufacturing plants in Sri Lanka. Sri Lanka based enterprises also benefit from access through free trade agreements to the European Union (EU-GSP+) and Pakistan markets.